On November 6, 2015, President Obama chose to deny the required presidential permit for Keystone XL. In light of this decision we will review our options, which will include filing a new application to receive a Presidential Permit for a cross border crude oil pipeline from Canada to the United States.
“TransCanada and its shippers remain absolutely committed to building this important energy infrastructure project,” said Russ Girling, TransCanada’s president and chief executive officer. “We will review our options to potentially file a new application for border-crossing authority to ship our customer’s crude oil, and will now analyze the stated rationale for the denial.”
We are disappointed with the President’s choice to deny the Keystone XL application. Keystone XL continues to have the support of American and Canadian workers, labor organizations, industry and most of all, the American and Canadian people. With their continued support, we believe that a pipeline will eventually be built as this is the safest, most economically efficient means of getting crude oil to market.
This decision deals a damaging blow to jobs, the economy and the environment on both sides of the border. This denial will result in more oil moving by rail along with an increase in GHGs.
By denying a Presidential Permit, by extension, 9,000 jobs for Americans, 2,200 for Canadians building Keystone XL and the 42,000 related jobs across the U.S. value chain have also been denied as a result of this decision.
Counties and communities will no longer have access, annually, for the life of the project, to hundreds of millions of additional dollars in revenue generated from taxes paid by a company that has already injected almost $200 million in tax revenue into communities along the existing Keystone route.
This has been a shovel ready project in Canada since it was deemed to be in the public interest by the National Energy Board in March of 2010. It is disappointing the administration appears to have said yes to more oil imports from Saudi Arabia and Venezuela over oil from Canada, the United States’ strongest ally and trading partner, a country with rule of law and values consistent with the U.S.